The U.S. Census Bureau’s information, compiled from 2005 to 2007, indicates that the Department of Defense spent a total of roughly $3.6 billion during the three-year period. Of that total, $2.3 billion was spent on key expenditures while $1.3 billion went toward procurement contracts. However, the figures do not indicate if any of DOD’s expenditures resulted in earning opportunities, nominal or lucrative, for local businesses.
According to the pamphlet which was distributed last week at a chamber luncheon, local small businesses received $803 million in federal dollars between 2000 and 2007. Additionally, the GCOC projects a 22.5 percent increase to the local gross domestic product if local-based DOD spending were to increase between $900 million and $1 billion.
With regard to local transactions, federal agencies and the DOD spent more than $500 million during fiscal year 2003. While that total decreased to below $400 million the following fiscal year, the $500 million mark was achieved again during fiscal year 2007, and was substantially more when compared to combined federal-DOD spending of just over $200 million back in fiscal year 2001.
The chamber armed forces committee is made up of the GCOC, Commander U.S. Naval Forces Marianas/USCINCPAC Representative, Thirteenth Air Force, 36th Air Base Wing, Guam National Guard, and U.S. Coast Guard Marianas Section.
The goal of the committee includes cultivating common respect and a friendly working relationship between businesses and the military communities; promoting cooperation through the free flow of information; and assuring equal treatment for local business with the military.
Additionally, committee members have agreed to encourage helpfulness in support of the local military presence; act as a link in aiding a positive relationship between the island’s civilian and military communities; enhance public awareness of the important economic and socio-cultural impact of the local military presence; promote the island as a leisure destination for uniformed and civilian military employees; and enhance mutual exchanges of information.
